Category Archives: BTCC

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BTCC Exchange Reopens After Nearly a Year

BTCC has announced today on 2 July 2018 that its cryptocurrency exchange has reopened, after being closed since September 2017 due to Chinese regulations that forced major Bitcoin exchanges to leave the country. BTCC is now using the USD instead of the CNY and is offering Bitcoin, Bitcoin Cash, Ethereum, and Litecoin trading pairs. Another big change is that it is headquartered in the United Kingdom, whereas it used to be based in Hong Kong.

Before its closure, the exchange claimed a world record, having facilitated 2,305 days of continuous cryptocurrency trading. BTCC was founded in June 2011 during the early days of Bitcoin and was China’s first Bitcoin exchange. BTCC is now unique in that it is a Europe-based Chinese exchange offering US dollar trading – perhaps a mix that could attract a global range of investors.

BTCC will be launching its own cryptocurrency and awarding it to users for registering, completing verification, and trading. The native cryptocurrency has not been issued yet and no timeline has been announced but when issued, it will be tradable on its exchange, automatically assigning it starting value. This follows the lead of Binance, who created a native cryptocurrency that has become one of the most popular cryptocurrencies in the world with a market cap of USD 1.6 billion.

The fact that BTCC will be rewarding cryptocurrency for trading is part of a recent spate of moves by exchanges to provide alternative trading fee structures to attract new investors. This has resulted in some creative measures, such as the “transaction fee mining” which has caused CoinBene and Bit-Z to obtain record trading volumes.


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4000 New Bitcoin ATM’s for Argentina Follows Global Trend

US ATM distributor, Odyssey Group, has announced that it has pre-agreements to install 4000 Cryptocurrency ATMs throughout Argentina, after an easing of regulations by the Central Bank of Argentina (BCRA)

The new laws enable the installation of ATMs, of any kind, to be installed in supermarkets, shopping malls, and cinemas. Until now, operating licenses have only been issued to Argentinian company Bancelo and international Link networks, providing they site their machines on banking premises.  The new legislation has broadened location rules and also opened up the market to independent players.

Odyssey Group CEO, Sebastian Ponceliz, explains that company platform, Octagon, “… allows the ATM user to obtain cash, exchange cryptocurrencies, obtain microcredits, transfer money and many other functions through electronic wallets.” Ponceliz has said that the planned 4000 ATMs is only a small part of the BRCA’s expected 30,000 machines to be installed across Argentina due to the new legislation.


Bitcoin ATMs are a becoming a global phenomenon, breaking down the entry barrier of identity verification by allowing the public to use cash or a debit card to purchase BTC immediately. The transaction issues a physical paper receipt with a QR code on it allowing users to scan that code into any wallet.

Bitcoin ATMs are becoming a more common sight, particularly in major capitals or centers, and the US currently has the greatest total of around 1,700 machines nationwide. Statistics show that there are now more Bitcoin ATMs than traditional banking machines being installed currently, with on average, five new machines being positioned each day.

There are now approximately 3000 Bitcoin ATMs installed in 67 countries and nearly half of these support altcoins as well as Bitcoin. In 2017 the number of Bitcoin ATMs doubled from just 954 to 2,028. Surprisingly Asia only has just 2.16 of the world total with the US, Canada and The UK leading the way.

China’s last ATM

China now has one Bitcoin ATM, after its cryptocurrency shut down, it’s been moved from a cafe in Shanghai’s Zhangjiang high-tech park where it was used by employees.  In now stands in the lobby of the headquarters of BTCC, one of the worlds oldest crypto exchanges. The machines’ screen shows that there’s ‘no bitcoin available for trading.’

Image Courtesy: jarmoluk


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